MacroStrategy Closes $205 Million Bitcoin-Collateralized Loan From Silvergate Bank To Buy BTC By Shawn Amick MacroStrategy, subsidiary of MicroStrategy a company well known for their bitcoin standard business model, has recently agreed to a $205 million bitcoin-collateralized loan purchased through Silvergate Exchange Network (SEN) Leverage program operated by Silvergate Bank. According to the MicroStrategy's press release and the loan terms, its purpose is attributed to three main things: Buy more bitcoin. Pay fees & interests related. General purposes determined by either MicroStrategy or MacroStrategy. “The SEN Leverage loan gives us an opportunity to further our position as the leading public company investor in bitcoin” – Michael Saylor, MicroStrategy, currently holds 125,051 bitcoin on their balance sheet, and has been leading the accumulation strategy since August 2020 by: Buying bitcoin with company's reserves. Buying bitcoin through the issuance of corporate bonds. Buying bitcoin by using their bitcoin as collateral. |